Opened Trade: Long Lockheed Martin

Per the On Deck Circle earlier this week, I bought Lockheed Martin (LMT) early in today’s session. I’ve been tracking LMT as it’s continued a path of bullish divergence on its short-term charts…

LMT Daily

In this divergence, the Market is telling me that LMT has hammered out a bottom since September. The long-term picture for LMT is still developing, so for now, I’ll target an exit at the $73.50 double top, which will have filled the November 11 gap between $71-72.

I opened my long position this morning when the stock bounced off support as pictured below: